Rice: NYC teacher doubled as loan shark

A 36-year-old teacher from East Meadow was arrested last night after allegedly lending out $40,000 at an annual interest rate more than four times the legal limit.

Nassau County District Attorney Kathleen Rice said Sean Harris, a physical education teacher in Astoria with the New York City school system, has been charged with criminal usury after allegedly lending out $40,000 to a third party at an interest rate of 2 percent per week, which amounts to an annual interest rate of 104 percent per year. Any loan with an annual interest rate of more than 25 percent is considered criminal.

Rice said the deal occurred late last year. He faces up to four years in prison if convicted and is due back in court Dec. 21.

Harris, a professional bodybuilder, was previously arrested on June 30 for allegedly possessing illegal steroids. Harris is due back in court on Jan. 11 for that charge.